Memery Crystal advised the board of Electric Word on the agreed recommended cash acquisition of Electric Word Plc by Sport Business Acquisitions Limited, which was announced on 28th June 2017. The offer price values the issued and to be issued share capital of Electric Word at £16.58 million. The acquisition is structured as a Scheme of Arrangement and is conditional, amongst other things, on shareholder approval.
Electric Word has been listed on AIM since 2000 acting as a holding company for media businesses focused on the provision of market intelligence, critical information and consultancy through a combination of digital, print and live formats including subscription websites, magazines, events, special reports and consultancy. Over the last few years, the Directors of Electric Word have been engaged in simplifying the Group and following a number of disposals became solely focused on the continued growth of SportBusiness Group, a business providing specialist information and consultancy services relating to sport.
The bidder is Sports Business Acquisitions Limited, owned and controlled by Riccardo Silva and Marco Auletta, who have considerable experience in operating sports media businesses.
The Memery Crystal team was led by corporate partner Andrew Titmas (Picture) and included senior associate Vivian Klaf, associate Robert Black, tax partner Tim Crosley and employment partner Merrill April
Law Firms: Memery Crystal;
Clients: Electric Word plc;